Core Scientific, Inc. (NASDAQ:CORZ) Receives Average Rating of “Moderate Buy” from Brokerages

Core Scientific, Inc. (NASDAQ:CORZ) has been given a consensus rating of “Moderate Buy” by the twenty-two brokerages that are currently covering the company, Marketbeat.com reports. Two research analysts have rated the stock with a sell rating, five have given a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating on the company. The average twelve-month target price among brokers that have covered the stock in the last year is $23.3421.

Several equities analysts have recently weighed in on the stock. UBS Group set a $30.00 target price on shares of Core Scientific in a research note on Wednesday, October 22nd. Jefferies Financial Group set a $24.00 price objective on shares of Core Scientific and gave the company a “buy” rating in a research note on Tuesday, October 28th. HC Wainwright upgraded Core Scientific from a “neutral” rating to a “buy” rating and set a $25.00 target price on the stock in a research report on Tuesday, October 28th. Citigroup raised Core Scientific from a “market perform” rating to an “outperform” rating in a report on Thursday, December 18th. Finally, Zacks Research upgraded Core Scientific from a “strong sell” rating to a “hold” rating in a research note on Tuesday, January 13th.

Insider Activity

In other news, Director Eric Stanton Weiss acquired 5,000 shares of the business’s stock in a transaction dated Tuesday, November 4th. The stock was bought at an average cost of $21.50 per share, for a total transaction of $107,500.00. Following the completion of the transaction, the director owned 226,687 shares of the company’s stock, valued at $4,873,770.50. The trade was a 2.26% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 1.40% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in CORZ. Allworth Financial LP grew its position in Core Scientific by 206.5% during the third quarter. Allworth Financial LP now owns 1,410 shares of the company’s stock worth $25,000 after buying an additional 950 shares in the last quarter. HHM Wealth Advisors LLC grew its holdings in shares of Core Scientific by 96.5% during the second quarter. HHM Wealth Advisors LLC now owns 1,926 shares of the company’s stock worth $33,000 after purchasing an additional 946 shares in the last quarter. Osaic Holdings Inc. increased its position in shares of Core Scientific by 112.1% in the second quarter. Osaic Holdings Inc. now owns 2,017 shares of the company’s stock worth $34,000 after purchasing an additional 1,066 shares during the last quarter. Advisors Asset Management Inc. increased its position in shares of Core Scientific by 68.3% in the second quarter. Advisors Asset Management Inc. now owns 2,690 shares of the company’s stock worth $46,000 after purchasing an additional 1,092 shares during the last quarter. Finally, Bernard Wealth Management Corp. purchased a new stake in Core Scientific in the second quarter valued at approximately $51,000.

Core Scientific Stock Up 4.5%

CORZ opened at $18.89 on Friday. Core Scientific has a twelve month low of $6.20 and a twelve month high of $23.63. The company’s 50-day moving average price is $16.18 and its two-hundred day moving average price is $16.13. The stock has a market cap of $5.86 billion, a price-to-earnings ratio of 125.94 and a beta of 6.87.

Core Scientific (NASDAQ:CORZ) last released its earnings results on Friday, October 24th. The company reported ($0.46) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.85) by $0.39. The firm had revenue of $81.10 million during the quarter, compared to analysts’ expectations of $107.18 million. As a group, sell-side analysts anticipate that Core Scientific will post 0.52 earnings per share for the current year.

About Core Scientific

Core Scientific, Inc (NASDAQ: CORZ) is a leading provider of large-scale blockchain infrastructure and digital asset mining services. The company develops, owns and operates high-performance data centers optimized for the mining of Bitcoin and other proof-of-work cryptocurrencies. In addition to its core mining operations, Core Scientific offers colocation, hosting and managed services designed to support institutional clients and enterprise users in deploying and scaling blockchain nodes and computing hardware.

Core Scientific’s service portfolio includes hardware procurement, deployment and maintenance, real-time monitoring, power management and network connectivity.